Real Estate

BUSINESS LINE DEDICATED TO TRADITIONAL REAL ESTATE ASSETS

Real estate funds dedicated to all the traditional real estate assets, thus ascribable to all risk categories (core, core-plus, value added and opportunistic) within the various typologies of the real estate industry (hospitality, logistics, office retail, etc.).

Soreo I Fund (in liquidation)

The Soreo I (Sopaf Real Estate Opportunity I) Fund is an alternative closed-end real estate investment fund reserved for professional and non-professional investors. The product began trading operations on December 19, 2006.

The Fund's objective is to achieve a growth in the capital value of the assets managed through the development, restructuring and trading of the real estate portfolio.

The portfolio consists of a free-standing building in Milan and a minority stake in a real estate company.

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Finurbe I Fund (in liquidation)

The Finurbe I Fund is a closed-end alternative real estate investment fund reserved for professional and non-professional investors that started trading operations on 10 December 2008, and has been in liquidation since 30 October 2014.

The Fund's purpose was to provide professional management and enhancement of the assets in order to increase their initial value and maximize the divisible balance, namely the end net result to be distributed among the shareholders.

The portfolio assets are residential development areas and residual residential projects located in northern Italy.

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REA Fund

The REA Fund is an alternative closed-end real estate investment fund reserved for professional and non-professional investors.

On 2 March 2009 Polis Fondi SGR took over its management, replacing another SGR.

The purpose of the Fund is to invest in and manage the assets it has collected, in order to achieve a medium to long term valorisation of the assets being invested and to maximize the divisible balance, namely the end net result to be distributed among the shareholders. The Fund invests no less than two-thirds of its total value in real estate and/or rights in rem, as well as in real estate companies. Furthermore, the Fund's assets may be invested, to a residual extent and in any case not exceeding one third of its total value, in financial instruments and other assets.

Real estate investments can be made for development, valorisation and trading purposes.

The Fund's assets are located in Milan, mainly for residential use.

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Vignola Fund (in liquidation)

Il Vignola Fund is a closed-end alternative real estate investment fund reserved for professional and non-professional investors that started trading operations on 12 May 2010 and has been in liquidation since 27 October 2016.

The Fund's purpose was to provide professional management and valorisation of the assets in order to increase their initial value and maximize the divisible balance, namely the end net result to be distributed among the shareholders.

The portfolio assets are mainly development areas and partly residential assets and are located in northern Italy.

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Polis Tre Fund

The Polis Tre Fund is an alternative closed-end real estate investment fund reserved for professional and non-professional investors. The product began trading operations on December 22, 2010.

The purpose of the Fund is to invest in and manage the assets it has collected, in order to achieve a medium to long term valorisation of the assets being invested and to maximize the divisible balance, namely the end net result to be distributed among the shareholders. The Fund invests no less than two-thirds of its total value in real estate and/or rights in rem, as well as in real estate companies. Furthermore, the Fund's assets may be invested, to a residual extent and in any case not exceeding one third of its total value, in financial instruments and other assets.

Real estate investments can be made for the purpose of development, valorization and trading, or with a view to gaining income from the property holdings.

The Fund's assets are located in northern and central Italy, and their intended uses are mainly for instrumental and logistic-productive purposes.

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Likizo Fund

The Likizo Fund is a closed-end real estate alternative investment fund reserved for professional and non-professional investors that started trading on 13 December 2012.

The Fund's purpose is to invest and manage the assets it has collected, in order to achieve a medium to long term valorisation of the assets being invested and to maximize the divisible balance, namely the end net result to be distributed among the shareholders.

The portfolio assets are mainly residential development areas while a part of the portfolio is invested in predominantly commercial and residential projects located in northern and central Italy.

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Le Brughiere Fund

The Le Brughiere Fund is a closed-end alternative real estate investment fund reserved for professional and non-professional investors launched on 13 April 2006. On 1 January 2013 Polis Fondi SGR took over the Fund management, replacing another SGR. The Fund's purpose is to provide professional and dynamic management of the Fund's assets in order to increase their initial value and maximize the divisible balance, namely the end net result to be distributed among the shareholders.

To achieve these purposes, the Management Company adopts an investment strategy focused on the development, conversion, restructuring and parceling of real estate areas for sale to third parties.

The assets held by the portfolio are mainly for residential use and are located in Lombardy.

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Il Ruscello Fund

The Il Ruscello Fund is an alternative closed-end real estate investment fund reserved for professional, speculative-type investors that started trading on 19 September 2013.

The Fund's purpose is to invest and manage the assets collected in order to achieve a medium to long term valorisation of the assets being invested and to maximize the divisible balance, namely the end net result to be distributed among the shareholders.

The portfolio assets are mainly residential real estate properties currently located in Cologno Monzese.

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Centro delle Alpi Real Estate Fund

The Centro delle Alpi Real Estate Fund is an Italian alternative closed-type Investment Fund reserved for professional investors. The Fund started trading operations on March 24, 2014.

The purpose of the Fund is to invest in and manage the assets it has collected, in order to achieve a long term valorisation of the assets being invested and to maximize the divisible balance, namely the end net result to be distributed among the shareholders. The Fund invests no less than two-thirds of its total value in real estate and/or rights in rem, as well as in real estate companies.

 The Fund's assets may be invested in real estate and rights in rem on mainly "free-standing" properties mainly for business and service sector use, located in central areas of Italian cities and leased to high standing partners based on medium and long term contracts. Real estate investments can be made with a view to gaining income from property holdings, or for development and/or trading purposes.

The Fund assets are located in northern and central Italy, mainly for commercial use and offices and leased mainly to primary credit institutions.

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Consortium Fund

The Consortium Fund is an Italian alternative closed-type Investment Fund reserved for professional and non-professional investors.

The Fund started operations on December 18, 2014.

The purpose of the Fund is to invest in and manage the assets it has collected, in order to achieve a mid-to-long term valorisation of the assets being invested and to maximize the divisible balance, namely the end net result to be distributed among the shareholders. The Fund invests no less than two-thirds of its total value in real estate and/or rights in rem, as well as in real estate companies.

Furthermore, the Fund's assets may be invested, to a residual extent and in any case not exceeding one third of its total value, in financial instruments and other assets.

Real estate investments can be made for the purpose of development, valorization and trading, or with a view to gaining income from property holdings.

The Fund's assets are located entirely in northern Italy,  and their intended uses are mainly for instrumental and logistic-productive purposes.

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Italy Retail Fund

The Italy Retail Fund, is an alternative closed-end real estate investment fund reserved for qualified investors. The Fund's purpose is to professionally manage and enhance the assets in order to increase their initial value, benefiting from the income from the property, and sharing out the net results deriving from the disinvestment and rental proceeds among all the shareholders. The Fund invests no less than two-thirds of its total value in real estate and/or rights in rem, as well as in real estate companies. The Fund will primarily invest, directly or indirectly (through limited liability investment vehicles or real estate companies), in real estate or rights in rem in real estate assets for commercial and retail use. These investments with a view to gaining income from property holdings will be mainly located in Italy.

The Fund's assets can be invested, residually, in real estate initiatives with a commercial and retail use aimed at the construction, renovation, extension and transformation of buildings with the aim of increasing long-term returns and incomes on an ongoing basis.

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Neopolis Fund

The Neopolis Fund, formerly Mire 1, is an alternative closed-end real estate investment fund reserved for qualified investors.

On 1 March 2017 Polis Fondi SGR took over its management, replacing another SGR.

The Fund's purpose is to professionally manage and enhance the assets in order to increase their initial value, benefiting from the income from the property, and sharing out the net results deriving from the disinvestment and rental proceeds among all the shareholders. The Fund invests no less than two-thirds of the total value of the Fund, in real estate and / or real estate rights, as well as in investments in real estate companies. Furthermore, the Fund's assets may be invested, to a residual extent and in any case not exceeding one third of its total value, in financial instruments and other assets. The typical investment consists of non-residential real estate assets leased to government departments, ministries, social security institutions and other public bodies or (even indirect) publicly-owned companies, regulated by lease contracts with a minimum duration of six years. It is possible to invest in already completed real estate as well as in real estate development and/or valorization operations; for merely illustrative purposes, these consist in a number of projects including construction, development, conversion, restructuring, rehabilitation and recovery.

The Fund's assets may be invested both for the purpose of gaining from the income generated by the properties and, to a lesser extent, for the purpose of trading. The assets managed by the portfolio are today mainly occupied by public administration offices, as well as a few homes in Rome to be divested partly due to redevelopment. All assets in the portfolio are currently in central Italy in Rome.

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